Province plays nice with Opacmare - for now
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By Jonathan Charlton
jonathan@peicanada.com
The province is keeping the gloves on with Italian yacht maker Opacmare, which recently closed its Pooles Corner facility.
When it did that, Opacmare technically went into a state of default which allows some flexibility in paying back $2.7 million in loans and grants from the province.
The province could demand prompter payment of the money and look at seizing assets but there are no plans to do so yet, Innovation Minster Allen Roach said.
“As long as we’re still in conversation with them, about settling up their loans on the equipment, and they’re in conversation with Active Communities about the property, they’re still making all the necessary payments so we’re not going to overreact to that.
“Certainly (the state of default) enables the province to move on it at some point but you certainly wouldn’t do at as long as they make their payments.”
Opacmore trumpeted plans to hire 100 people when it opened the facility but when it closed there were only half a dozen.
Al Roach is not Cabinet Minister Material-come to think of it-his not even MLA material. This Innovation Minister is most likely to follow in the steps of the last innovation Minister-in three more years time he'll be defeated-and hopefully Premier Ghiz wont have the chance to give him a job the same way he did for Alan Campbell. Any update on the Homburg situation? I'd like my money!